Outcrop Silver & Gold Corporation (TSX-V: OCG) (OTCQX: OCGSF) (DE: MRG) is pleased to announce additional high-grade silver-gold results from the Guadual target, located in the central corridor of its 100% owned Santa Ana high-grade silver project in Colombia. The latest drill holes confirm wider, consistent high-grade mineralization in the Guadual North vein, further supporting the potential of the vein system to contribute to a future mineral resource update. The current confirmed footprint of Guadual is more than 500 metres along strike and 250 metres deep. Outcrop Silver has drilled a total of 3,817 metres in 19 holes to date at Guadual, and plans to execute a short delineation drilling campaign to support the upcoming mineral resource update.

Highlights

• Hole DH463 intercepted 1.86 metres at 519 g/t AgEq (444 g/t Ag and 1.00 g/t Au) in the Guadual North vein (Table 1).
• Hole DH462 intercepted 0.64 metres at 2,124 g/t AgEq (1,825 g/t Ag and 3.99 g/t Au) in the Guadual vein (Table 1).
• Holes DH455, DH456, DH458, and DH460 intercepted consistently high-grade silver and gold mineralization in the northern section of the recently discovered high-grade shoot at Guadual North, confirming continuity over a 150 metres step-out to the north (Figure 1).

Figure 1. Plan view of the Guadual vein target showing the drill holes reported in this release (Table 1), previously reported holes, and surface exploration samples (Table 3). Hole DH450 intercepted 1.12 m of quartz vein with No Significant Results in the Guadual vein. No Significant Result means an intercept lower than 200 g/t AgEq1. Geological cross-section locations are shown and correspond to Figure 2 and Figure 3. Coordinates are UTM system, zone 18N and WGS84 projection. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 2. Geological cross-sections showing the Guadual vein. Left: Section A from Figure 1. Right: Section B from Figure 1. Each section has a width of 50 metres. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 3. Geological cross-section showing the Guadual vein. Section C from Figure 1. The section’s width is 50 metres. (CNW Group/Outcrop Silver & Gold Corporation)

Figure 4. Longitudinal section from the Aguilar-Jimenez-Guadual vein system showing the drilling pierce points and previously identified historical workings. The contours represent the interpolation of grade (AgEq g/t) multiplied by estimated true width (metres). Pierce points and channel samples are showing grade as AgEq g/t. Some holes encounter voids and are assumed to represent old mining workings. (CNW Group/Outcrop Silver & Gold Corporation)

These results validate Guadual North as a zone of consistent, wider vein potential with strong grades, extending over several hundred metres on strike with vertical continuity. Drill hole DH463, in particular, delivers both width and grade, both key factors for future resource modeling.

“We’re seeing consistent results at Guadual North that demonstrate not only high grades but also wide vein thicknesses that are very encouraging at the current stage,” commented Guillermo Hernandez, Vice President of Exploration. “Intercepts like 1.86 metres at 519 g/t AgEq and 1.77 metres at 293 g/t AgEq are particularly promising, as they represent mineralized widths with scale. The added bonus of a splay zone in DH460 returning 3,349 g/t AgEq opens new opportunities to grow the system laterally as well. Guadual is proving to be a key part of the central corridor’s evolving high-grade system.”

The Guadual vein, along with its parallel structure Guadual North, forms part of the central mineralized trend at Santa Ana and represents the northernmost extension of the continuous Aguilar–Jimenez–Guadual vein system (Figure 1 and Figure 4). Structurally, it trends northeast and is hosted in low-grade green schists. The vein system includes multiple parallel veins and splays (Figure 1), with recent drilling confirming both grade consistency and structural continuity over a strike length exceeding 550 metres and a vertical extent of over 250 metres (Figure 4). Importantly, the target remains open both along strike and at depth, offering significant potential for further expansion through ongoing exploration (Figure 4).

Width
(m)Au
g/tAg
g/tAgEq¹
g/tVeinGuadualDH452145.15145.650.500.351.14360446Guadual NorthDH452155.09155.390.30*0.53172212SplayDH455124.54125.190.650.584.097041,011Guadual NorthIncluding124.54124.840.300.278.461,5112,147DH456146.00147.771.771.280.85229293Guadual NorthIncluding147.46147.770.310.223.678481,123DH458177.13178.381.250.730.67304354Guadual NorthIncluding177.60178.380.780.460.97445518DH460144.57145.260.690.451.00542617Guadual NorthIncluding144.87145.260.390.261.35826928DH460155.73156.030.30*6.062,8943,349SplayDH460236.70238.141.441.010.63387434GuadualIncluding237.24237.540.300.211.021,5231,600DH46275.5076.631.130.910.21223239Guadual NorthIncluding75.5075.820.320.260.50776813DH462132.55133.190.640.553.991,8252,124GuadualIncluding132.89133.190.300.268.263,8844,504DH463100.34102.201.861.011.00444519Guadual NorthIncluding101.60102.200.600.332.391,3761,555

Table 1. Drill hole assay results reported in this release. * The current knowledge of these structures does not allow for estimating the true width.

Aguilar–Jimenez–Guadual Vein System

The Aguilar, Jimenez, and Guadual veins form a continuous, structurally connected corridor known as the Aguilar–Jimenez-Guadual vein system, which now includes three confirmed high-grade mineralized shoots (Figure 4) and extends for more than 2 kilometres along strike. With strong vertical continuity between 200 and 250 metres, this mineralized corridor represents one of the most promising high-grade zones within the Santa Ana project. The presence of multiple shoots and parallel splays within each vein points to significant upside potential for expanding the mineral resource both laterally and at depth.

Table 2 presents selected drill intercepts from across the entire vein system, highlighting some of the highest silver-equivalent grades drilled in this sector to date. Several veins exhibit multi-metre intercepts with silver-equivalent grades in the multi-kilogram-per-tonne range, further reinforcing the district’s strong potential for high-margin, underground resource growth

Table 2. Selected drill results at the Aguilar-Jimenez-Guadual vein system in the Santa Ana project. * Based on silver equivalent grade-metres (AgEq gm/t), which reflect the product of grade multiplied by the mineralized length. Length does not represent an estimated true width.

Table 3. Surface chip and grab sample results in the Guadual vein target from the regional exploration program, including those previously reported and referred to in Figure 1 (see News Releases dated July 5, 2022, and September 11, 2024). By their nature, grab samples are selective, and the assay results may not necessarily represent true underlying mineralization. Coordinates are UTM system, zone 18N and WGS84 projection.

Table 4. Collar and survey table for drill holes reported and referred to in this release. All coordinates are UTM system, Zone 18N, and WGS84 projection.

¹Silver Equivalent

Metal prices used for equivalent calculations were US$1,800/oz for gold, and US$25/oz for silver. Metallurgical recoveries based on Outcrop Silver’s metallurgical test work are 97% for gold and 93% for silver (see news release dated August 23, 2023). The equivalency formula is as follows:

Silver equivalency formula (CNW Group/Outcrop Silver & Gold Corporation)

QA/QC

Outcrop Silver applied its standard protocols for sampling and assay for exploration activities. Underground channel samples were taken perpendicular to the vein and sample length was broken by geology. Core diameter is a mix of HTW and NTW depending on the depth of the drill hole. Diamond drill core boxes were photographed, sawed, sampled and tagged. Samples were bagged, tagged and packaged for shipment by truck from Santa Ana’s core logging facilities in Falan, Colombia to the Actlabs certified sample preparation facility in Medellin, Colombia. ActLabs is an accredited laboratory independent of the Company. HQ-NTW core is sawn with one-half shipped. Samples delivered to Actlabs were AA assayed on Au, Ag, Pb, and Zn at Medellin using 1A2Au, 1A3Au, Multi-elements AR (Ag Cu Pb Zn), and Code 8 methods. Then, samples were sent to Actlabs Mexico for ICP-multi-elemental analysis with code 1E3. In line with QA/QC best practices, blanks, duplicates, and certified reference materials are inserted at approximately three control samples every twenty samples into the sample stream, monitoring laboratory performance. A comparison of control samples and their standard deviations indicates acceptable accuracy of the assays and no detectible contamination. No material QA/QC issues have been identified with respect to sample collection, security and assaying. The samples are analyzed for gold and silver using a standard fire assay on a 30-gram sample with a gravimetric finish for over-limits. Multi-element geochemistry was determined by ICP-MS using either aqua regia or four acid digestions. Crush rejects, pulps, and the remaining core are stored in a secured facility at Santa Ana for future assay verification.

Qualified Person

Edwin Naranjo Sierra is the designated Qualified Person within the meaning of the National Instrument 43-101 and has reviewed and verified the technical information in this news release. Mr. Naranjo holds a MSc. in Earth Sciences, and is a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Naranjo Sierra is a consultant to the company and is therefore independent for the purposes of NI 43-101.

About Santa Ana

The 100% owned Santa Ana project covers 27,000 hectares within the Mariquita District, through titles and applications, known as the largest and highest-grade primary silver district in Colombia with mining records dating back to 1585.

Santa Ana’s maiden resource estimate, detailed in the NI 43-101 Technical Report titled “Santa Ana Property Mineral Resource Estimate,” dated June 8, 2023, prepared by AMC Mining Consultants, indicates an estimated indicated resource of 24.2 million ounces silver equivalent at a grade of 614 grams per tonne and an inferred resource of 13.5 million ounces at a grade of 435 grams per tonne. The identified resources span seven major vein systems that include multiple parallel veins and ore shoots: Santa Ana (San Antonio, Roberto Tovar, San Juan shoots); La Porfia (La Ivana); El Dorado (El Dorado, La Abeja shoots); Paraiso (Megapozo); Las Maras; Los Naranjos, and La Isabela.

The drilling campaign aims to extend known mineralization and test new high-potential areas along the permitted section of the project’s extensive 30 kilometres of mineralized trend. This year’s exploration strategy aims to demonstrate a clear pathway to substantially expand the resource. These efforts underscore the scalability of Santa Ana and its potential for substantial resource growth, positioning the project to develop into a high-grade, economically viable, and environmentally responsible silver mine.

About Outcrop Silver

Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of professionals with decades of experience in the region. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.

At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. With a deep understanding of the Colombian mining landscape and a track record of successful exploration, Outcrop Silver is poised to transform the Santa Ana project into a significant silver producer, contributing positively to the local economy and setting new standards in the mining industry.